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Cheltenham boss Gary Johnson said: "Obviously we wish Billy well. He's gone searching for pastures new at a higher level, we're sad to see him go but that's football."

In his two year stay, Waters found the net 27 times in 69 starts and 24 substitute appearances, firstly helping the club to win the National League title and then secure their EFL status in 2016/17.

He was offered a new contract to stay at Cheltenham, but his form attracted a host of interest from other clubs and the Cobblers have secured the front man's signature.

"We are delighted to have signed Billy," manager Justin Edinburgh told the Northampton Town website.

Billy Waters and Sam Wedgbury in the last derby between Cheltenham Town and Forest Green

"He was a key target for us and we feel he will provide a good balance to the other strikers we have at the club.

"Billy is an excellent age, he has hunger and desire to keep his career on its upward curve and we think he will fit in well.

"He is a mobile striker who knows where the goal is. He plays with his heart on his sleeve, he will run all day and supporters will warm to his all action, committed style of play.

"He was the player of the season at his former club and a popular figure. He has developed his game significantly over the last couple of seasons and we feel we are signing him at a good age, with a fair amount of experience and we are excited about working with Billy."